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<br /> RE•R�C4R�D 98,.. , 2.,-
<br /> 98-��-;1oa� . -
<br /> i TOdFTHER WITH all the improvements naw on c�reaftcr crated on the property, and all easements, _
<br /> appurtena�urs,and fixtures now or hereufter a purt of thr property. All replacements and additions shall also be covercd
<br /> by this Scxurtty Instniment. All of the foregoing is rrterred ta in this S��curity lnstrornent us the "Property:" -
<br /> Boeeow�:K Covi:NnN•rs thAt Barrower�s lawfully selsed of the estatc hereby canveyed and has the nght to grant and
<br /> convey the Property and that the Property is unencumbered, except for encumbrances of recard. Borrawer warrants and �
<br /> � will defend gNnernlly the tltle to thr Property agalnst all clal[ns und demands,subJect to any encumbrances of rewrd.
<br /> THis SECUKnv INSiHUM�Ni wmbincs unlfonn wvenants for national usc and non-uniform covenants with limitrd _�
<br /> variations by Judsdiction ro constitute a uniform Recurlty instrument covering rcal property. 'x��
<br /> UNi�oRM CovCHnNrs. Borrower and Lender wvenant and agree as follows: --
<br /> � � 1. Paymeat of Principul and Iaterest; Prepaymeat und Late Charges.Burrowcr shall promptly pay when due __ _
<br /> � the principal of and interest on the debt evidenced by the Note and any prepayment and late ch�rgea d�un4er the Note. -
<br /> 2.F u n d s for Taxes an d I a surance. Su b jec t to app l ic a b le l a w o r t o a w r i t t e n w a i v e r b y L e n d e r, B o r r o w e r s h a l l p a y =_
<br /> •I to Lender on the day monthly payments are du�under the Note,untll the Note is paid ln full,a sum ("Funds") for: (a) ,,�`
<br /> ycarly taxes and assessments which n�ay attain priority over this Security Instrument as a Ilen on the Property; (b)yearly
<br /> �� leasehold payments or ground rents on tha Property. lf any;(c) yearly hazard ot propeny insurance premiums; (d)year l y =_ �
<br /> flood insurance premiums, if any;(e)yearly mongase insurance premtums, if any; and (�any sums Qayable by Borrower s
<br /> to Lxnder, in accordance with the provisions of paragraph 8, in lieu of the payment of mortga�e insurance premiums. �,`�Y`,
<br /> These items are called "Escrow Items." Lender may, at any time,wllect and hold Funds in an amounc not to exceed the ���;,___
<br /> ma�cimum amount a lender for a federally related mortgage loan may require for Bonower's escmw account under the �,-��
<br /> ' fecleral Real Estate Settlement Procedures Act of I974 as amended from time to time, 12 U.S.C. $ 2601 et seq. �a��o_
<br /> ("RESPA"), unless another law that ap lies to the Funds sets a lesser amount. If so,I.ender may, at any time,collect and �=--
<br /> � hold Funds in azt amount not to exc�the lesser amount. I..ender may estimate the nmaunt of Funds due on the basis of �', _
<br /> current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with applicable ,
<br /> � law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal ageucy,insuumentality, or entity
<br /> K (includin�Lender, if Lender is such aa institution) or in any Federal Home I.nan Bank. L.ender shall apply the Futtds to =
<br /> � pay the Escrow Items. Lender may not charge Borrower for holding and applying the Fuads, anaually analyzing the
<br /> escrow account, or verifying the Escrow Ttems, unless Lender pays Borrower mterest on the Funds and applicable law
<br /> permits I.ender to make such a char�e. However, I.ender may require Bonower to pay a one-time charbe for an ,
<br /> '� mdependeat real estate tax reportiag service used by I.ender in wnnection with this loan,unless applicable law provides
<br /> otherwise.Unless an agreement is made or applicable law requires interest to be Qaid, L.ender shall not be required to pay �;;`�
<br /> Borrower any interest or earnings oa the Funds. Borrower sud Leader may agree m writing,however,that interest shall be �,;_ -
<br /> � paid on the Funds.Lender shall glve to Bonower,without charge,an annual accounting of the Funds,showing credits and
<br /> • debits to the Funds ead the purpose for which each debit to the Funds was rnade. The Funds are pledged as additional _
<br /> __ securitv for all sums secured by Wis Security Insuumeat. �u
<br /> If the Funds held by Lender exceed the amounts permitted to bE held by applicable Iaw, I.eader shatI a�:wuni i� `_" _ __
<br /> Bonower for the excess Funds in accardance with the requitements of appltcable law. If the amount of the Funds ueld by -_
<br /> �r� Lender at any time is not sufficieat to pay the Escrow Items when due, I.ender may so notify Borrower in wdting,and,In —_
<br /> r � such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Botrower shall make up the -
<br /> deficiency in no more than twelve monthly payments.at Lender's sole discretion.
<br /> � Upon payment in full of all sums secured by this Security Ittstrumeat, Lender shull prompdy refund ta Bonower -
<br /> any Funds held by Lxnder. If, under pazagraph 21, Lender shall acquirc or sell the Property, Lender, prior to the —�
<br /> � acquisition or sale of the Pro�erty, shall apply an,y Funds held by Lender at the time of acquisition or sale as a ctedit
<br /> � against the swns securec!by this Sec;urity Instrument. �^''
<br /> .. N• 3. Applieuttoa of Payments. Unless applicable law provides othenvise, all payments received by Lender under _'�
<br /> paragraphs 1 and 2 shall be applted: first, to any prepayment charges due under the Note; second, to amounts payable
<br /> '�, under paragraph 2;third,to interest due;fourth,to pnncipal due;and last. to any late cha�•ges due under the Note.
<br /> � 4.Cherges; Liens. Bonower shall pay all taxes, assessmeats, charges,fines and impositions attributable to the _
<br /> h' Property which may attain priority over this Secudty Insuument, and leasehold payments or ground rents, if aay. _
<br /> Borrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that m�nn�r, Borro�ver shall
<br /> � '�, pay them on time directly to the person owed payment. Borrower shall promptly fiunish to Lender all notices of amounts E�-'.,,`'�—°
<br /> � to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender
<br /> � receIpts evideacing the payments. �-•.
<br /> '� � Borrower shall promptly discharge any lien which has priority over this Securiry Instrumeat unless Borrower: (a) �;:-
<br /> agrees in wrlcing to the payment of the obligation secured by the lien in a ma�ner acceptable to Lender; (b) contests in
<br /> � i ��_.�_s
<br /> � � good faith the Ilen by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion _
<br /> operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien aa asreement sazisfactory to �•
<br /> ' " Lender subordinating the lien to this Securiry Instrurnent. If Lender deterntines that any part of the Prope►ty is subject to a a';�,
<br /> � llen which may attain priority over this Security Instrument, Lender may give Bonower a nvtice identifying the lien. " ,��—
<br /> Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. '` �
<br /> � 5.Hazard or Property Insurance. Borrower shall keep the improvemcnts now existmg or 6ereafter erected on the "'t `
<br /> Property insured ugainst loss by fire, hazards included within the terrn "extended coverage" and aziy other ha�ards, '
<br /> Form 3028 9/90 fpape 2 of 61 ' . � �•��j_
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<br /> BANKERS SYSTEMS.INC..ST.CLUVD,MN 68302 Ii•800•397•73411 FORM MD�1•NE Y/6/91 �r '2,.;�"« ,':"�'
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